SG Global Consulting was founded by an ICAI-qualified Chartered Accountant (2025 batch) with a background spanning infrastructure finance and consulting practice. The firm is built on a simple conviction: founders and SME promoters deserve the same quality of financial advisory that large corporates get — without the junior-staff layering, opaque pricing, and slow turnaround that comes with big-firm engagements.

We provide direct, principal-level advisory across India and UAE. Our fees are fixed-scope and transparent. Our communication is direct. And our work is tied to outcomes, not billable hours.

GST TCS Reconciliation for E-Commerce Sellers: A Practical Guide

By SG Global Consulting • 5 min read

Selling through major E-Commerce Operators (ECOs) like Amazon, Flipkart, or Myntra offers massive scale, but it introduces a severe compliance headache: TCS (Tax Collected at Source) under GST.

Under Section 52 of the CGST Act, ECOs are required to collect 1% TCS (0.5% CGST + 0.5% SGST, or 1% IGST) on the net value of taxable supplies made through their platform. While this seems straightforward, the reconciliation process before filing your GSTR-1 is notoriously complex.

The Core Challenge

The gross sales reported in your accounting software rarely match the net sales reported by the ECO in their GSTR-8. Why? Because of returns, cancelled orders, shipping charges, and platform commission offsets. If you blindly file your GSTR-1 based on your internal sales register without reconciling against the ECO's GSTR-8, you will inevitably face ITC mismatches and departmental notices.

A 3-Step Reconciliation Framework

• Step 1: Download the GSTR-8 Dashboard Data. Before filing, extract the seller-wise TCS data from the GST portal. Compare this month's net sales value against your internal platform sales ledger.
• Step 2: Adjust for Returns. E-commerce returns often cross over into the next month. Ensure that credit notes are issued in the correct month to offset the gross sales, matching the ECO's net figure.
• Step 3: Claim the TCS Cash Ledger. Once reconciled, accept the TCS details on the GST portal. This amount will flow directly into your Electronic Cash Ledger, which can be utilized to offset your final tax liability.

At SG Global Consulting, we build automated reconciliation dashboards that ingest Amazon/Flipkart settlement reports and map them directly to your GSTR-1 preparation. Contact us to automate your e-commerce compliance.

UAE Free Zone QFZP Status: What Qualifies and What Doesn't

By SG Global Consulting • 6 min read

The introduction of the 9% Corporate Tax in the UAE has fundamentally shifted the landscape for Free Zone entities. Historically exempt, Free Zone companies must now prove they are a Qualifying Free Zone Person (QFZP) to benefit from the 0% preferential tax rate on Qualifying Income.

What Makes You a QFZP?

To retain the 0% benefit, your entity must meet all of the following rigorous conditions:

• Maintain adequate substance in the UAE (physical presence, employees, and operating expenditure).
• Derive "Qualifying Income" (strictly defined B2B transactions, manufacturing, or processing).
• Not have elected to be subject to the standard 9% Corporate Tax.
• Comply fully with Arm's Length Transfer Pricing principles.
• Maintain audited financial statements.

The "Excluded Activities" Trap

Many founders incorrectly assume their Free Zone trade is automatically tax-free. However, certain "Excluded Activities" instantly disqualify that specific revenue stream from the 0% rate. These include transactions with natural persons (B2C), banking activities, insurance, and ownership/exploitation of UAE mainland intellectual property.

If your non-qualifying revenue exceeds 5% of total revenue or AED 5,000,000 (whichever is lower), you lose your QFZP status entirely, subjecting your global income to the 9% rate.

Need a QFZP assessment? Our cross-border team conducts deep-dive revenue segregation analyses. Schedule a diagnostic call.

CMA Data Preparation: What Banks Actually Check Before Sanctioning

By SG Global Consulting • 4 min read

When applying for working capital limits (Cash Credit/Overdraft) or term loans in India, Credit Monitoring Arrangement (CMA) Data is the absolute core of your application. It is not just a spreadsheet; it is the mathematical narrative of your business's viability.

The 3 Critical Ratios

Credit managers look at hundreds of data points, but these three are non-negotiable:

• Current Ratio: Banks typically expect a minimum benchmark of 1.33. If your projected CMA shows 1.1, the credit manager will immediately flag your business as highly illiquid.
• DSCR (Debt Service Coverage Ratio): For term loans, your DSCR must comfortably sit above 1.5 to 2.0. This proves your projected cash flows can easily cover the principal and interest repayments.
• TOL/TNW (Total Outside Liabilities to Total Net Worth): This indicates your leverage. A ratio exceeding 3.0 often requires strong justifications or additional collateral.

The MPBF Calculation

Maximum Permissible Bank Finance (MPBF) dictates exactly how much working capital limit you will be granted. By strategically forecasting your debtor realization period and inventory holding period, you can legally optimize your CMA to yield a higher MPBF limit.

We prepare bank-grade CMA data that withstands brutal credit committee scrutiny. Book a consultation today.

Tax Implications for NRIs Returning to India

By SG Global Consulting • 5 min read

Returning to India after years abroad triggers a complex transitional period under the Income Tax Act, 1961. The most critical factor during this transition is your Residential Status, specifically the RNOR (Resident but Not Ordinarily Resident) status.

The RNOR Shield

If you have been a Non-Resident (NRI) in 9 out of the 10 preceding financial years, or have been in India for 729 days or less in the 7 preceding years, you qualify as RNOR. This status can shield your foreign income (capital gains, overseas rental income, foreign dividends) from Indian tax for up to 2-3 years after your return.

FEMA Compliance on Return

Under FEMA regulations, once you return to India for permanent settlement, you must immediately redesignate your NRE/NRO/FCNR accounts to resident accounts (or RFC - Resident Foreign Currency accounts). Failing to do so is a contravention of FEMA, attracting heavy penalties.

We provide end-to-end repatriation and RNOR tax planning for returning professionals and founders. Let's plan your transition.

Navigating the First Year of UAE Corporate Tax

By SG Global Consulting • 4 min read

With the UAE Corporate Tax regime now in full swing, businesses operating in Dubai, Abu Dhabi, and the Northern Emirates are facing their first major compliance hurdles. The Federal Tax Authority (FTA) is enforcing strict registration timelines based on trade license issuance dates.

Registration Deadlines & Penalties

Missing your specific CT registration deadline triggers an automatic AED 10,000 penalty. It is crucial to look at your license issuance month. If your license was issued in January, regardless of the year, your deadline to register without penalty is May 31st.

Small Business Relief

If your global revenue is below AED 3,000,000, you may elect for Small Business Relief. This essentially deems your taxable income to be zero, though you must still register and file a tax return. This relief is only available for tax periods ending on or before 31 December 2026.

Essential Legal Documents Every Startup Must Have

By SG Global Consulting • 6 min read

Founders often focus heavily on product and sales, leaving compliance and governance as an afterthought. This becomes a critical vulnerability during the Series A due diligence process. Investors will walk away if your cap table or IP assignments are messy.

The "Big 3" Documents

• Founders' Agreement: This must clearly define vesting schedules, cliff periods, roles, and what happens if a founder exits early. Standard vesting is 4 years with a 1-year cliff.
• IP Assignment Agreements: Every line of code, design, and brand asset created by founders or early contractors MUST be explicitly assigned to the corporate entity. Investors invest in the company, not the founders' personal IP.
• Employment/Consultancy Agreements: Containing solid confidentiality, non-compete, and non-solicitation clauses to protect your trade secrets.

Don't let bad paperwork kill your next funding round. We conduct pre-funding compliance audits. Speak to our advisory team.

Setting up Virtual CFO Dashboards that Actually Work

By SG Global Consulting • 4 min read

A good Virtual CFO doesn't just hand you an Excel P&L at the end of the month. They implement real-time dashboards that give founders instant visibility into cash runway, burn rate, and unit economics.

We build our client dashboards by hooking directly into Tally, Zoho, or QuickBooks via API, pulling data into PowerBI or Looker Studio. This allows you to track Customer Acquisition Cost (CAC), Lifetime Value (LTV), and Working Capital gaps dynamically without waiting for month-end closure.

Startup Valuation Methods: DCF vs. VC Method

By SG Global Consulting • 5 min read

Determining the pre-money valuation of a pre-revenue or early-stage startup is notoriously subjective. However, when issuing shares in India, you are required to obtain a Registered Valuer Report under the Companies Act and FEMA (if foreign investment is involved).

The **Discounted Cash Flow (DCF)** method is the legal standard required by regulators. It projects your free cash flows 5 years into the future and discounts them back to Present Value. The **Venture Capital (VC) Method**, however, is what investors actually use. It looks at the expected exit multiple (e.g., 10x in 5 years) and works backward to calculate what percentage they need today.

FEMA Compliance for Foreign Remittances (LRS & FDI)

By SG Global Consulting • 4 min read

Cross-border transactions out of India are heavily regulated by the RBI. For individuals, the Liberalised Remittance Scheme (LRS) allows up to $250,000 USD per financial year for permitted current or capital account transactions.

For businesses receiving Foreign Direct Investment (FDI), strict compliance with the ARF (Advance Remittance Form) and FC-GPR filings via the FIRMS portal is mandatory within 30 days of share allotment. Delayed filings attract heavy late submission fees or require formal compounding by the RBI.